using a demand curve that is more elastic than a supply curve, O show the effect of a subsidy on a good. Be sure to indicate the impact on the price & quantity, indicate the effect on the producers & consumer by showing the benefit for each show the cost of the subsidy for the gout. (6 )2. Qd 2 500- 10P & Q5 2 - 100+5p at b ) Q 2 8400 calculate the new equilibrium price & quantity after a $ 3 indirect tax is placed on the good. (2) c) calculate the gave revenue from thes tax. (2). " calculate the amount of tax paid by consumers& producers (2 ) 3, How can a good such as a mid- priced car can be both anInferior good & a normal good?4, A business person believes they understand the concept of price elasticity of demand . believes that decreasing her prices by half will double her revenue. Explain if this person is thinking correctly. Clint: Think about Total Revenue on a supplys demand curve ]